GURUGRAM, India, Jan. 11, 2023 /PRNewswire/ — The Cold chain market is slightly consolidated with the presence of some big market leaders catering to main end users as Meat and Seafood, Fruits and Vegetables industry. The major growth supporting factors in Thailand cold chain market was the growing export of seafood, fruits and vegetables requiring cold storage and transportation facilities to remain fresh and healthy.
- Cold chain operators are catering to the energy-intensive requirements of products while minimizing the pressure on natural resources.
- Change in Lifestyle and Urbanization led to Rising Domestic Consumption of Processed food.
- Adoption of new and advanced technologies like WMS, Robotics, ASRS automation, Internet of Things.
Growth of retail, frozen food, e-commerce Industry: Fast paced lifestyle and rise in per capita income in the Thailand has increased the demand for frozen ready-to-cook food. Thailand is the home of top e-commerce retails of Southeast Asian region like Shoppe, Lazada, JIB etc. The major retail players like Tesco Lotus, 7-Eleven, Tops Super Market, Big C have expanded their geographical presence in the country.
Shortage of cold storage Space: In the present situation, there is a shortage of cold storage space as compared to the demand, hence creating a supply gap. This creates huge expansion opportunities for companies to increase their capacity and capitalise on the unmet demand. For example: Bangkok cold storage service and k line container service will establish new warehouses in Bang na district near Bangkok.
High Operational Cost Associated with Logistics: Rising cost of electricity and fuel are driving the operational cost of cold storage and transportation services, further narrowing down the margins. Currently, the cost of per Kilowatt hour (Unit of ) Electricity is 4.72 Baht aa t record high level.
Iot-Enabled Temperature Monitoring: Iot-Enabled Temperature Monitoring helps in monitoring goods round the clock, temperature logging has become way easier than manual methods, previously undertaken. This has resulted in increasing demand for data cold chain monitoring during the pandemic.
Analysts at Ken Research in their latest publication- “Thailand Cold Chain Market Outlook to 2026F – Driven by Rising Import-Export Trade Volume and Domestic Consumption of Meat, Seafood and Popularity of Ready to Eat Frozen Processed Food“ by Ken Research provides a comprehensive analysis of the potential of Cold Chain Industry in Thailand. With the rising demand for meat and other cold storage items among the population, along with Government initiatives to better roads, ports and transportation facilities, the Cold Chain market has shown significant growth during the current period.
Key Segments Covered:
Thailand Cold Chain Market
By Revenue Split
- Cold Transport
- Cold Storage
By End User
- Meat and Seafood
- Dairy Products
- Processed Frozen Foods
- Vaccination and Pharmaceuticals
- Fruits and Vegetables
By Ownership
- 3PL Cold Chain Facilities
- Owned
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Thailand Cold Transport Market
By Truck Type
- Reefer Vans/Trucks (1 to 10 Tons)
- 20 foot reefers (10 – 20 Tons)
- 40 foot reefers and others (more than 20 tons)
By Mode of Transportation
- Land
- Sea
- Air
By Location
- Domestic
- International
By Vicinity
- Inter-city
- Intra-city
By End User
- Meat and Seafood
- Dairy Products
- Vaccination and Pharmaceuticals
- Processed Frozen Foods
- Fruits, Vegetables and others
Thailand Cold Storage Market
By Temperature range (by number of pallets)
- Frozen
- Chillers
- Ambient
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By Automation (by pallets)
- Automated Pallets
- Non-automated Pallets
By End User
- Meat and Seafood
- Dairy Products
- Vaccination and Pharmaceuticals
- Processed Frozen Foods
- Fruits, Vegetables and others
By Region
- Bangkok (Including Samut Prakan and Samut Sakhon)
- Chonburi
- ChiangMai
- Others
Key Target Audience:
- Cold Storage Companies
- Cold Chain Companies
- Cold Transport Companies
- Captive Cold Storage Companies
- Captive Cold Chain Companies
- Logistics Companies
- Non-captive Companies
- Cold Chain Associations
- Logistics Associations
- Private Equity Firms
- Venture Capitalists
Time Period Captured in the Report:
- Historical Year: 2016-2021
- Base Year: 2021
- Forecast Period: 2022P– 2026F
Companies Covered:
- JWD Infologistics
- Thai Yokorei co Ltd
- Sinchai Cold Storage
- Konoike Cool Logistics (Thailand)
- Bangkok Cold Storage Service ltd.
- CTD Cold Storage
- Thaimax Cold Storage
- SCG Nicherei Logistics
- Lucky Star
- Mon Logistics
- Mobile Logistics
- Piti Cold Storage
- Interexpress
- Kerry Cool Logistics
- Chomthana
Key Topics Covered in the Report:
- Thailand Cold Chain Market Overview
- Thailand Market Overview
- Ecosystem of Thailand Cold Chain Market
- Business Cycle and Genesis of Thailand Cold Chain Market
- End User Analysis of Thailand Cold Chain Market
- Flowchart of Thailand Cold Chain Market
- Industry Analysis of Thailand Cold Chain Market
- SWOT Analysis of Thailand Cold Chain Market
- Major Challenges and Bottlenecks in Thailand Cold Chain Market
- Regulatory Framework in Thailand Cold Chain Market
- Competitive Landscape in in Thailand Cold Chain Market
- Market Share of Major Cold Storage Services in Thailand Cold Chain Market
- Detailed Analysis on Thailand Cold Chain Market (Market Size and Segmentation, 2016-2022; Future Market Size and Segmentation, 2022-2027F)
- Market Opportunity and Analyst Recommendations
For more insights on the market intelligence, refer to below link:
Related Reports By Ken Research:
The Indonesia Cold Chain Market witnessed a growth during the period 2016-2021 and the market would continue to grow owing to increasing demand for temperature- controlled products in the country, entry of several new players. The nation has also started projects to bring down supply chain and logistics expenses, notably by creating a national logistics platform and a sea toll program. As the demand for transporting refrigerated products is increasing, so will the demand for value-added services such as repackaging and consolidation, which will increase the demand for 3PLs in the country. In addition, a 3PL can offer customized warehouses based on customer needs.
According to Ken Research estimates, the Singapore Cold Chain Market – which grew from approximately SGD ~10.0 Bn in 2016 to approximately SGD ~14.0 Bn in 2021 – is forecasted to grow further into SGD ~19.0 Bn opportunity by 2026F, owing to the rising household expenditure on food products and investments in the health care sector.
The evolution of Cold Chain is being driven by the appearance of new companies with a vision of opportunity in the business and aim to capture market share. The Cold Chain market in Brazil is emerging with key projects due to high exports of fruits and vegetables. Brazil Cold Chain Market is currently at the growth stage and the market is currently increasing at a double digit CAGR owing to rising growth in export of meat products and import of pharmaceuticals.
Nigeria Cold Chain Market is Expected to grow at a CAGR in double digits between 2021 and 2026F, one of the major determinants for the surging growth in coming years is the development of infrastructure, Improvement of pharmaceutical cold chain, Government Efforts and big Investments like, Triple I, an investment fund that invests in Sub-Saharan businesses to drive social impact decided to make an investment in the cold chain industry of Nigeria. The president of Organization for Technology Advancement of Cold Chain in West Africa, has recently urged all the state(s) and federal governments to invest in cold chain to reduce food wastage.
Vietnam cold chain market was evaluated to grow at a double-digit CAGR during 2016-2021.The market is currently in the growth stage owing to rising domestic consumption of meat and seafood along with increasing government initiatives and investments in the sector. Correspondingly, the Vietnam Cold Chain Industry Ecosystem is driven by large-scale 3PL companies with Real Estate companies investing in logistics services. The occupancy rate in the cold storage market has been increasing owing to undersupply of cold storage warehouses, especially in the major cities and ports where demand for cold storage is exceeding the supply. Other factors affecting prices also include the increasing demand for citrus, meat, and seafood.
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